Q: how is a spreadsheet a good accounting tool to perform bank reconciliations and track cash inflows and outflows.

A: used to. [ Spreadsheets can assist us in many tasks with accuracy and speed.
Before we look at some of the uses we can put Spreadsheet software to let's look at a few of its features, which make it unique and useful.
The most important features of any spreadsheet are the calculation of figures using arithmetic signs or functions. While not completely unique to spreadsheets, this feature is

particularly more visible and word processing software.
For example in Microsoft Excel, there is a formula bar for typing or displaying typed formulas. The formula can be inserted in this bar or in a specific cell preceded by an = (equal) sign.
You need not insert actual figures, as that would be cumbersome. You simply specify a function such as SUM, AVERAGE, e.t.c and enclose into brackets the beginning column and row numbers and the ending column and row numbers.
The use of functions helps to easily perform calculations. Not only would the computation be accurate but it helps to simplify an otherwise complicated calculations process.
As we have seen, Spreadsheets have many useful features, which make calculation of figures simpler. Now let's look at some of the uses you can put spreadsheets to:
Whether at the office or at home, drawing and maintaining budgets is important. Not only will you be focused and be able to pursue your financial objects clearly with a budget, but you can compare your actual versus planned performance. You can easily prepare a detailed budget with spreadsheets. The calculations can easily be done by entering appropriate formulas and getting the totals and differences. ]

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